Frequently Asked Questions (FAQs)

Living Trust

What is a living trust?
A living trust, also called an inter vivos trust, is a written declaration or agreement by which the signer creates a trust.

What are the basic provisions of a living trust?
The creator of the trust is usually referred to as the trust Settlor or Trustor, or, in the case of a husband and wife trust...

Can I amend or revoke my living trust?
Yes. Unless your trust specifically states that it is irrevocable, you always have the right to...

Does the trust need to file a separate tax return?
Not during your lifetime. Your social security number is also the trust’s “tax identification” number.

If I execute a living trust, why do I need a will?
When you sign a living trust, you should also sign a “pourover will” to be sure that assets solely in your name...